State of Wisconsin Investment Board Taps Markit For Data Management Needs

Financial information services provider, Markit (Nasdaq: MRKT), has announced the selection of its enterprise data management (EDM) platform by the State of Wisconsin Investment Board (SWIB).

Last month, Dan Doscas joined Markit as its newest Director in the company’s Trading Services Group, following a lengthy tenure in the operations technology field, including stops at Citi, Broadridge, HSBC, Lehman Brothers and Merrill Lynch.

The decision comes after an ongoing analysis of a number of platform offerings in the EDM realm, having culminated in the selection of Markit. The SWIB’s $104 billion investment fund will create a central Hub Hub A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method Read this Term for all of its investment data and reconciliations via Markit’s platform.

According to Lori Wersal, SWIB’s Chief Financial Officer, in a recent statement on the selection, “SWIB needed a solution to effectively harness the immense amount of data that we need as a global investment management organization. Markit’s broad base of capabilities and flexibility will allow us to reduce the time for data requests and provide higher quality and readily available data for modeling, analysis and investment decisions.”

“SWIB is one of the most progressive state pension funds actively investing in non-traditional asset classes. As the complexity of their infrastructure changes, Markit’s EDM platform is flexible enough to adapt and we look forward to a long relationship with the firm,” added Spiros Giannaros, Managing Director and Global Head of Enterprise Data Management at Markit, in an accompanying statement.